Qualcomm Soars on Reports of Forthcoming Broadcom Bid -- Market Talk

Features Dow Jones Newswires

20:18 ET [Dow Jones] Qualcomm Inc. shares soared nearly 13% Friday after reports of a forthcoming takeover bid by Broadcom Ltd., and the price is up almost 2% more to $63.00. Broadcom as soon as this weekend may launch a bid made up mainly of cash, with 10% or 20% in stock, according to a person familiar with the matter. It is by no means a done deal. Broadcom may not submit its offer. Qualcomm may not be receptive. And the overlap in the two companies' product lines around Wi-Fi and Bluetooth could draw antitrust scrutiny to a deal - on top of recent challenges to Qualcomm's business by regulators in several countries. But Broadcom CEO Hock Tan is known as a shrewd deal maker, and Qualcomm is weakened after a year of battering by Apple Inc. (AAPL) and antitrust authorities. (Ted Greenwald; ted.greenwald@wsj.com)

Continue Reading Below

(END) Dow Jones Newswires

November 03, 2017 20:35 ET (00:35 GMT)